{"id":232315,"date":"2022-09-16T10:54:39","date_gmt":"2022-09-16T15:54:39","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=232315"},"modified":"2022-09-16T15:09:35","modified_gmt":"2022-09-16T20:09:35","slug":"macau-concessionaires-likely-to-be-capped-at-six","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/macau-concessionaires-likely-to-be-capped-at-six\/","title":{"rendered":"Macau Likely Sticking with Six Casino Concessionaires"},"content":{"rendered":"

Seven groups — the six established concessionaires and an entity tied to Genting Malaysia — have submitted bids for Macau gaming permits. Analysts expect the number awarded will be six, however.<\/p>\n

\"Macau
The Cotai Strip in Macau, seen above. Analysts expect the territory will keep gaming permits to six concessionaires. (Image: Twitter)<\/figcaption><\/figure>\n

The emerging consensus is that gaming regulators in the special administrative region (SAR) will unlikely drop one of the six incumbents in favor of Genting, indicating the Malaysian conglomerate is fighting an uphill battle in its quest to enter the largest Asia-Pacific casino hub.<\/p>\n

Macau already has six of the best casino operators in the world, evidenced by their massive contributions to Macau over the past two decades,\u201d wrote Citi analyst George Choi in a report to clients. \u201cGenting Group has its own strengths, but we don\u2019t think it offers any unique attributes that would persuade authorities to make a change.\u201d<\/p><\/blockquote>\n

The established Macau operators are Galaxy Entertainment, Melco Resorts & Entertainment (NASDAQ: MLCO), MGM China, Sands China, SJM Holdings, and Wynn Macau. All of those companies submitted bids<\/a> to renew their permits.<\/p>\n

Some Macau Concessionaires Have Advantages<\/h2>\n

As with any other competition, some Macau operators have edges over their rivals, and those advantages are unlikely to go unnoticed by regulators.<\/p>\n

\n

For example, Galaxy and Sands China \u2013 a unit of Las Vegas Sands (NYSE: LVS<\/a>) \u2013 aren\u2019t just the two largest Macau operators. The bulk of their business is derived from mass and premium mass players. That\u2019s a benefit, as the SAR\u2019s VIP circuit may never return to normal following the demise of the junket industry.<\/p>\n<\/div>\n

\u201cFollowing the decline of junkets, as well as Covid impacts, we believe the Macau government needs stable and healthy development of the mass-market gaming business more than ever,\u201d added Choi. \u201cThe six incumbents appear best positioned to assist the government to achieve this goal with the least risk.\u201d<\/p>\n

Among the issues regulators are looking to address in the retendering process are concessionaires making more non-gaming investments. They are also looking at their plans for luring visitors to Macau from locations beyond mainland China. Owing to ties to geographically diverse parent companies, MGM China and Wynn Macau<\/a> can check that latter box, as can Melco.<\/p>\n

Where Genting Fits In<\/h2>\n

It\u2019s not surprising Genting wants to enter Macau. Rumors to that effect are long-running, and it\u2019s the only major gaming market in the region where the company doesn\u2019t have a presence. For now, the prevailing wisdom is that the company entering Macau via the current retendering process isn\u2019t impossible. But it\u2019s not probable, either.<\/p>\n

Macau may prefer the incumbents for their track record in helping local employment. But Genting group has surprised the market previously by winning New York City and Singapore competitive bids,\u201d according to a Morgan Stanley note.<\/p><\/blockquote>\n

It\u2019s possible Genting could pursue an acquisition<\/a> to enter Macau. But of the six aforementioned established concessionaires, only SJM Holdings makes for a logical target at the moment. However, that company hasn\u2019t said it\u2019s for sale, nor has Genting announced it\u2019s shopping for a Macau acquisition.<\/p>\n","protected":false},"excerpt":{"rendered":"

Seven groups — the six established concessionaires and an entity tied to Genting Malaysia — have submitted bids for Macau gaming permits. Analysts expect the number awarded will be six, however. The emerging consensus is that gaming regulators in the special administrative region (SAR) will unlikely drop one of the six incumbents in favor of […]<\/p>\n","protected":false},"author":46,"featured_media":232322,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,62],"tags":[81913,81897],"acf":[],"yoast_head":"\nMacau Concessionaires Likely To Be Capped At Six<\/title>\n<meta name=\"description\" content=\"Macau regulators are unlikely to make Genting a concessionaire in retendering process, say analysts.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/macau-concessionaires-likely-to-be-capped-at-six\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Macau Concessionaires Likely To Be Capped At Six\" \/>\n<meta property=\"og:description\" content=\"Macau regulators are unlikely to make Genting a concessionaire in retendering process, say analysts.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/macau-concessionaires-likely-to-be-capped-at-six\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-16T15:54:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-16T20:09:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/cotai-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1920\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/macau-concessionaires-likely-to-be-capped-at-six\/\",\"url\":\"https:\/\/www.casino.org\/news\/macau-concessionaires-likely-to-be-capped-at-six\/\",\"name\":\"Macau Concessionaires Likely To Be Capped At Six\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-concessionaires-likely-to-be-capped-at-six\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-concessionaires-likely-to-be-capped-at-six\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/cotai-scaled.jpg\",\"datePublished\":\"2022-09-16T15:54:39+00:00\",\"dateModified\":\"2022-09-16T20:09:35+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Macau regulators are unlikely to make Genting a concessionaire in retendering process, say analysts.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-concessionaires-likely-to-be-capped-at-six\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/macau-concessionaires-likely-to-be-capped-at-six\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/macau-concessionaires-likely-to-be-capped-at-six\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/cotai-scaled.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/cotai-scaled.jpg\",\"width\":2560,\"height\":1920,\"caption\":\"The Cotai Strip in Macau. 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